We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Melco Resorts & Entertainment Limited (MLCO - Free Report) operates casino gaming and entertainment resort facilities in Asia.
Notably, Melco Resorts revenues have been hurt by its sluggish performance in Macau over the past few quarters. Nevertheless, per the Macau Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) rose in all the three months of the quarter, indicating that the Macau market might be on the recovery path. Still, it will take some time for the region to return to its former glory as concerns related to the sustainability of revenues from the VIP market linger.
Even so, a comparatively better performance at the non-gaming segments like rooms and food and beverages, are somewhat driving revenues. Also, the company’s cost-control efforts including effective management of marketing expenses are boosting profits and margins.
Investors should note that the consensus estimate for MLCO has hardly witnessed any significant movement over the last 60 days. Meanwhile, MLCO’s earnings have been strong over the past few quarters. In fact, the company posted positive earnings surprises in each of the last four quarters, with an average beat of 90.42%. Revenues outpaced the Zacks Consensus Estimate in two of the trailing four quarters.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLCO beats on earnings. Our consensus earnings estimate called for earnings per share of 8 cents, and the company reported earnings of 24 cents per share. Investors should note that these figures take out stock option expenses.
Revenues: MLCO reported revenues of $1.28 billion. This surpassed our consensus estimate of nearly $1.20 billion.
Key Stats to Note: Adjusted Property EBITDA was $353.3 million in the first quarter of 2017, up 42% year over year. The upside came mainly on the back of better performance in group-wide rolling chip and mass market table games segments.
Stock Price Impact: At the time of writing, the stock price of Melco Resorts was up over 3% during pre-market trading hours following the earnings release.
Check back for our full write up on this MLCO earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Melco Resorts (MLCO) Tops Q1 Earnings & Revenue Estimates
Melco Resorts & Entertainment Limited (MLCO - Free Report) operates casino gaming and entertainment resort facilities in Asia.
Notably, Melco Resorts revenues have been hurt by its sluggish performance in Macau over the past few quarters. Nevertheless, per the Macau Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) rose in all the three months of the quarter, indicating that the Macau market might be on the recovery path. Still, it will take some time for the region to return to its former glory as concerns related to the sustainability of revenues from the VIP market linger.
Even so, a comparatively better performance at the non-gaming segments like rooms and food and beverages, are somewhat driving revenues. Also, the company’s cost-control efforts including effective management of marketing expenses are boosting profits and margins.
Investors should note that the consensus estimate for MLCO has hardly witnessed any significant movement over the last 60 days. Meanwhile, MLCO’s earnings have been strong over the past few quarters. In fact, the company posted positive earnings surprises in each of the last four quarters, with an average beat of 90.42%. Revenues outpaced the Zacks Consensus Estimate in two of the trailing four quarters.
MLCO currently has a Zacks Rank #3 (Hold) but that could change following Melco Resorts' earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLCO beats on earnings. Our consensus earnings estimate called for earnings per share of 8 cents, and the company reported earnings of 24 cents per share. Investors should note that these figures take out stock option expenses.
Revenues: MLCO reported revenues of $1.28 billion. This surpassed our consensus estimate of nearly $1.20 billion.
Key Stats to Note: Adjusted Property EBITDA was $353.3 million in the first quarter of 2017, up 42% year over year. The upside came mainly on the back of better performance in group-wide rolling chip and mass market table games segments.
Stock Price Impact: At the time of writing, the stock price of Melco Resorts was up over 3% during pre-market trading hours following the earnings release.
Check back for our full write up on this MLCO earnings report later!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>